Ever watch a scary movie and think, how are zombies able to get so far into buildings and chase people despite being slow and brain-dead?

Moribund conditions persist

"Natsu bate" overcomes the currency markets

Bearish barks and wagging tails in the forex markets...

We should see an otherwise unremarkable week...

But currency markets remain range bound...

Imagine the following scenario. A small Italian town on the Swiss border. The customs officers, checking the passengers on a local cross-border train, notice among the usual workers making their daily commute to Switzerland a couple of well-dressed Asian men, one of whom is carrying a briefcase. When examined, the briefcase proves to have a false bottom...

When I traded the Nikkei during the nineties, every market rally was capped by a predictable flood of new equity issuance by cash starved, undercapitalized Japanese banks...

or perhaps the market has lost interest in the yen...

Back at the end of 2008 Morgan Stanley and many of its peers faced a dire situation. They needed capital badly...